PSigma's Becket cuts equities on market decline call

PSigma Balanced Managed Fund of Funds manager Tom Becket has cut his vehicle's equity weighting on e...

PSigma Balanced Managed Fund of Funds manager Tom Becket has cut his vehicle's equity weighting on expectations of a sharp market decline early this year. Launched on 22 September 2008, the fund built up its equity exposure from a starting 40% to 55% in late November as stocks were punished at the height of the global market turmoil. However, the manager slashed equity exposure back to 50% as the market rallied over the holiday break and he remains ready for more aggressive reductions should the revival continue. "We remain extremely cautious about the outlook for equity markets in ea...